Trump Digital Gold Crashes 98% in Hours After Rug Pull

A cryptocurrency called Trump Digital Gold (GOLD) was launched on Solana (SOL) and immediately collapsed, losing 98% of its value in just hours.

The token peaked at over $50 million in market value early Saturday morning but now sits near $770,000, according to DexScreener.

A verified merchandise account that Donald Trump follows promoted the token, which gave it initial weight.

However, Lookonchain, a blockchain analytics firm, flagged the supply structure early on. The developer held 600 million GOLD, while 15 new wallets spent $18,657 on another 224.5 million, controlling 82.45% of the total supply.

Late buyers absorbed that selling, echoing similar retail losses before.